FOREX ANALYSIS: British Pound Sentiment Warns of Continued Weakness

ssi_gbp-usd_body_Picture_8.png, FOREX ANALYSIS: British Pound Sentiment Warns of Continued Weakness

GBPUSD – Retail FX traders have continued to scale back their British Pound short positions against the US Dollar (ticker: USDOLLAR), and the noteworthy shift in sentiment warns that the pair may have seen an important failure at $1.63. Since last week, total short interest has fallen 11 percent while longs are up 20 percent.

We see further risk of GBPUSD declines as crowds buy into weakness.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.35840.000.00%
    USDSGD=X
    1.4928+0.0006+0.04%
    EURSGD=X
    1.7788-0.0023-0.13%
    GBPSGD=X
    77.7310+0.668+0.87%
    SGDJPY=X
    5.7077-0.0015-0.03%
    SGDHKD=X
    3.0068+0.0166+0.56%
    SGDMYR=X
    9,674.3408-20.8389-0.21%
    SGDIDR=X
    4.9098+0.0005+0.01%
    SGDCNY=X
    1.0145-0.0052-0.51%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,320.00-0.80-0.06%
    GCQ16.CMX
    19.67-0.01-0.04%
    SIU16.CMX
    103.00+3.11+3.11%
    ^XAU
    2.21-0.01-0.65%
    HGU16.CMX
    42.70-0.22-0.51%
    CLU16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.140.00
    ^FVX
    1.56-0.01
    ^TNX
    2.28-0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.485-0.010-2.02%
    5TP.SI
    0.169+0.004+2.42%
    N21.SI
    0.375+0.010+2.74%
    E5H.SI
    0.131-0.003-2.24%
    43E.SI
    0.163+0.008+5.16%
    O9E.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.21+0.05+28.83%
    AZG.SI
    0.25+0.05+25.00%
    BLZ.SI
    0.157+0.026+19.85%
    UV1.SI
    0.191+0.026+15.76%
    AZT.SI
    0.35+0.03+11.11%
    AWC.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.415-0.075-15.31%
    BLL.SI
    0.205-0.035-14.58%
    D6U.SI
    0.136-0.020-12.82%
    Y06.SI
    0.35-0.05-12.50%
    BDF.SI
    0.245-0.030-10.91%
    PA3.SI